The Rise of Multi-Vendor eCommerce Website
The already established grand father of eCommerce are Amazon, Alibaba, eBay, and Flipkart have been over the years enjoyed the patronage of almost half of internet traffic as a whole. However, the unique things are that this eCommerce giant websites are built on multi-vendor architecture giving consumers a very wide array of products and providing a complete eCommerce solution under one big roof. The multi-vendor architecture emerges as an undisputed winner with following advantages.
1)Higher Return On Investment (ROI): On Amazon for instance you are sure to find whatever is it you are looking for whether it’s a pin or a plane. The wide range of vendors selling different type of products means they will be processing a humongous daily sales transaction in millions. This can be said of a single eCommerce shop that needs to sell to a specific buyer.
2)Big Data: Multi vendor stores are about data, the volume of sales transaction data generated from these multi-shop website are huge and subsequently the build up to big data. Since the multi-vendor has access to big data, they can easily analyse sales metrics, user and click behaviour and more. Which is not the case of a single product single shops.
3) Special Prices & Juicy Discount
Multiple vendors, uncountable buyers, endless sales.The lucrative deals and discount offers coupled with impressive exchange value are what buyers seek in the present scenario. Unlike this, since eCommerce shops lack numbers, their deals and offers arenâ€™t as sizeable as of the multi vendor storesâ€™ are.
4)Less Warehousing Troubles & Easy Shipment Tracking
Warehousing and product distribution can pose a great challenge, especially when voluminous trade transactions are the main characteristics of the business ecosystem. They fulfill the needs of buyers with not just a single warehouse, but there are multiple warehouses and delivery partners involved in the supply chain. No matter how diverse a product base can be, there is always timely and uncompromised delivery of products, purchased from multi vendor stores.Additionally, since these platforms are backed by heavy investment, they provide superior product tracking option to buyers so that they can keep an eye on shipmentâ€™s current location, and accordingly plan the receiving end.
In Nigeria’s landscape the Jumia.com.ng and Konga.com which was recently sold to a Zinox PC were the giants of eCommerce landscape in Nigeria providing various retail store owners the platform to market their product to millions of Nigerians browsing online. The advantages of a multi-store over a single store eCommerce website are in a long haul, and the gap is not closing any sooner. However, single-store eCommerce website will always be there to serve a retail store owner but tapping into the millions of buyers that throng the multi-store eCommerce website could be the future here.